Since coming to Australia I have been a customer of commbank. For the past two years I have experience good, fast and friendly service. The bank fees are low (compared to other) and the customer services at the branches are good and clerks are friendly. The netbank app is also easy to use. With the Netbank Saver account, you can get 0.5% interest when you have some excess money on your account. I would definitely recommend the bank services.
Lowest interest 0.20 shop around
This bank pays the lowest interest on savings accounts,the interest rate they pay is pathetic to other banks,they are the greediest bank many other banks are offering higher interest .30 percent there giving there customers,I have been with this bank since I was at school,all they care about is fleecing there customers,I have done a lot of research on this bank,and other banks,yes I said I was leaving this bank in the new year,I didn't because of the cov-19 now I will be looking at a bank where I can make a better interest,on my term deposit i ...have been offered a 1.70 percent interest rate,and an other bank offered me 2.00,percent,also another bank 2.25,where this bank offers the lowest interest rate no wonder people are leaving this bank ,check the interest rates offered from other banks i did and I know where my moneys going it won't be in this bank,best of luck to you all,shop around for the best interest on your savings,heritage bank Australia is offering 1.90 it pays to shop around
Savings account is a SCAM
Do not bank with commbank. Do not set your kids up with COMMBANK.
I had been with Commbank since my parents opened an account for me. When I turned 18, I had to change my Youth saver account to the Netbank saver. This is when I started noticing problems. I don't remember the exact interest rate advertised at the time (around 1%) but this did not reflect the actual interest that I was receiving in my account every month. I was student working part-time: I had a constant stream of income and supposedly no account fees on the Netbank saver.
For...$xx, xxx (5 figures) in my savings account, I was receiving a whopping 2 cents interest per month. You don't even need to do maths do realise that it does NOT add up to interest p.a. advertised on the website. Being a naive youngster, I didn't think to do anything about it. I continued using this savings account because it was convenient. I continued using it for YEARS. Imagine all the interest I lost out on. Every now and then I would also get charged a few cents for account fees. To finish this all off, they removed my savings account a couple months back without any warning. Take this from my experience. Commbank do not care about their customers. They talk about helping customer improve their financial well-being when in reality they scam those who do not know any better.
Over a period of 9 months Commbank have Continually changed my Interest Rate without notifying me as per the terms set out in there product disclosure!
Ive Been loyal to this bank for 38 years But no longer!
commbank, dont care about there customers!
ATMs always down
It seems every time I go to use a commonwealth branch it’s always “out of service” so annoying meaning I have to then drive to the next towns atm. Seriously
Joke of a savings account
0,15% interest rate is a joke, which I was then able to increase to 0,40% for an extra 3 months by requesting online.
Dumped them for UBank (1.35% base rate), use anyone but Commbank.
Commbank Netbank Saver Account Product
As a loyal customer of the Commbank the Netbank Saver account interest is dropped down to every 3 months to 0.5% and you as a loyal customer have to go to the branch and ask them to raise up again (you can do it yourself from the homepage of your on line account) but it has been slowly dropping over the last 9 months, 1.75%, 1.60%, now is 1.35% at April 27th 2019. Change Banks!!
The worst savings account ever
They closed my NetBank Saver without any warning at all so I complained to them but they totally ignored me and they were very rude to me and to my Mum as well.
The Last Straw
CBA Netsaver used to have a decent interest rate but somehow it declined to .5%. If you tell the bank that you want more they will give it to you but why should you have to ask. They must assume that most customers won't ask. I am therefore moving all of my accounts to MOVE bank who have far superior accounts.
My interest goes down every month!
I started the account last year and my deposit amount had increased gradually now to more than double as I put my earnings in this each week. I have noticed I received about $8 as my monthly interest back then but now I notice my interest is $4. What the hell? I deserve more than that. How does the interest go down as the deposited balance grow? They lure us in to opening an account with a higher rate and sneakily reduce the rate later.
Being Forced to join NetBank
I would like to know why i am being forced to join NetBank when I'm making a purchase on the internet. I got to my favourite site to make a purchase and was greeted by a NetBank letter through Checkout.
Saying ''i can't make the purchase without first joining NetBank, this is and has nothing to do with the internet site as i have told them and sent them a screenshot. Your Credit card is recognised as "CW" and then your jammed from making that purchase until you join which i will never do in a Million Years.
I like the bank but i do not like ...
Not good enough !!
After giving away my laziness i just realised that it has the lowest interest rates in Australia. There are many banks out there with better interest rate on savings accounts and with same level of customer service(which is honestly quite good)
No BPAY. No Automated transactions. No Online Transactions.
It does not an alternative of the transaction account. I cannot pay my bills online, I cannot set direct debit for my loan or credit card payment online. I cannot do anything with my money in this account. Even transfer of my money from this account to transaction account happens after a day. So if I need money in an emergency my money cannot be helpful to me. ANZ's Online Saver is quite better.
1.05% is incredibly low
Commonwealth savings accounts have incredibly poor interest rates and always seem to be reducing much quicker that other banks. They offer a reasonable interest rate to get you to open account (eg 2.5% and then drop this to 1.05% within 3 months). Other banks are offering 3% with no drop. Go elsewhere.
Shockingly low credit interest rate
BEWARE! The credit interest for NetBankSaver has dropped steadily even though there have been no changes to the Reserve Bank Rate. The rate is now 1.05% which is shockingly poor. You can get double to triple this rate at a number of other institutions.
Questions & Answers
How do I link my wife's Smart Access account to our Joint Netbank Saver account?
why does the net saver does not work to my computer?
Can you withdrawl at the counter from your NetBank saver account I don't want to transfer it
I have streamline and my mastercard account but I don't have netbank saver, how do I get this into my statement account
Get an answer from our members
|Bonus Interest Period||5 months|
|Standard Variable Rate||0.05% p.a.|
|Bonus Variable Rate||0.35% p.a.|
|Total Interest Rate||0.4% p.a.|
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